I have a 1954 235 that came to me with my project. The stamped serial number next to the distributor indicated that it was assembled to be installed in a car with a Powerglide. As part of the prep for starting the engine, I pulled the side cover so I could see the pushrods and the tops of the lifters. I was able to determine by seeing the tops of the lifters, that they were indeed, hydraulic. (Also, by pulling the side cover, I got a better idea of how clean the motor was internally.)